The Asia-Pacific region is the world's largest market of ethylene vinyl acetate (EVA), with around half of its total demand in 2012. China is the key consumer of ethylene vinyl acetate in the Asia-Pacific, as per MarketsandMarkets.com. Injection molding, film, compounding and wire & cable are the application segments, driving the demand for ethylene vinyl acetate products, which in turn is pushing the demand for ethylene vinyl acetate within the region. The growing industrial expansions in the region have also led to increased consumption of ethylene vinyl acetate. The market is also growing due to high penetration of this material in industries such as film and other extrusion which have further helped the EVA market to emerge in the region. Various innovations, developments, and expansions in different industries have in turn made the region a potential growth market for ethylene vinyl acetate.
High density ethylene vinyl acetate is manufactured by the copolymerization of ethylene and vinyl acetate. It contains around 25%-45% of vinyl acetate content. High density ethylene vinyl acetate is consumed in applications such as hot melt adhesives and injection molding. It is the fastest growing ethylene vinyl acetate form with a CAGR of 6.5% to 2018. The important growth driver for ethylene vinyl acetate is the huge economic progress of the Asia-Pacific countries, increase in end use applications, and easy availability of cheaper raw materials in North America and the Asia-Pacific. Compounding and wire & cable application market for ethylene vinyl acetate has a wide scope for its expansion, which in turn would help in increasing the consumption for high density ethylene vinyl acetate and medium density ethylene vinyl acetate. Medium density ethylene vinyl acetate remains the dominant type and is estimated to grow with a healthy CAGR in the coming future. Film is the biggest application of ethylene vinyl acetate and is anticipated to be worth $4,741.1 million by 2018.
ExxonMobil Corporation (U.S), LyondellBasell Industries NV (The Netherlands), E.I. du Pont de Nemours & Co. (U.S.), ENI S.p.A (Italy), and China Petroleum & Chemical Corporation (China) are some of the key manufacturers of ethylene vinyl acetate.